森萱医药(830946) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2024 was ¥272,084,703.46, a decrease of 14.33% compared to ¥317,588,772.54 in the same period last year[14]. - The net profit attributable to shareholders of the listed company was ¥69,680,607.02, down 9.07% from ¥76,632,214.85 year-on-year[14]. - The gross profit margin improved to 43.97%, compared to 42.98% in the previous year[14]. - The company reported a revenue of 272.08 million yuan, a decrease of 14.33% year-over-year[21]. - Net profit attributable to shareholders was 69.68 million yuan, down 9.07% compared to the previous year[21]. - The company's net profit for the first half of 2024 was 70,693,561.07, a decrease of 12.3% compared to 80,516,417.50 in the same period of 2023[78]. - The total comprehensive income for the first half of 2024 was 70,693,561.07, compared to 80,516,417.50 in the same period of 2023, reflecting overall reduced profitability[78]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,314,278,061.45, a slight decrease of 0.98% from ¥1,327,313,296.09 at the end of the previous year[15]. - Total liabilities decreased by 12.44% to ¥103,094,419.79 from ¥117,735,441.12 year-on-year[15]. - The total assets growth rate was -0.98%, with total assets showing a decline of 3.32% year-over-year[17]. - The company's total equity increased slightly to CNY 1,211,183,641.66 from CNY 1,209,577,854.97, showing a growth of about 0.1%[72]. - The total equity attributable to the parent company at the end of the period is CNY 1,209,577,854.97[85]. Cash Flow - The net cash flow from operating activities was ¥60,210,377.31, an increase of 3.81% compared to ¥57,999,349.25 in the same period last year[16]. - Cash flow from operating activities was 60.21 million yuan, reflecting a decrease of 3.81% year-over-year[21]. - The net cash flow from investing activities significantly improved to ¥40,428,863.02, a 157.11% increase from a negative ¥70,787,210.78 in the previous period[32]. - The company reported a net cash increase of CNY 28,204,955.35, contrasting with a net decrease of CNY 110,582,134.55 in the first half of 2023[82]. Inventory and Receivables - The company’s inventory turnover rate was 1.05, compared to 1.20 in the same period last year[16]. - The company’s inventory decreased slightly by 1.99% to 143.08 million yuan, accounting for 10.89% of total assets[23]. - Accounts receivable decreased by 5.88 million yuan, down 37.11%, mainly due to an increase in bill financing from state-owned banks[25]. - The accounts receivable at the end of the period amounted to ¥63,899,921.02, an increase from ¥36,039,916.99 at the beginning of the period, representing a growth of 77.5%[165]. Environmental Compliance - The company passed the FDA inspection in May 2024, indicating compliance with U.S. regulatory standards[3]. - The company is classified as a key pollutant discharge unit by environmental protection authorities[35]. - The company has obtained various environmental permits, with the latest expiring in 2029[36]. - The company has implemented a wastewater treatment process that combines industrial and domestic wastewater before discharging it to the park's wastewater treatment plant[40]. - The company conducts annual monitoring of key exhaust gas factors including dichloromethane, methanol, hydrochloric acid, ammonia, and odor concentration[44]. Risk Factors - The company faces tax policy risks as some subsidiaries currently enjoy tax incentives for high-tech enterprises, which may be revoked if conditions are not met, potentially impacting operations[53]. - The company is exposed to foreign exchange risks due to fluctuations in the RMB against foreign currencies, which could lead to exchange losses as it expands overseas sales[53]. - Raw material price volatility poses a risk to profitability, with the company implementing a warning system to manage significant price changes[53]. - The company is at risk of intensified market competition from both domestic and international players in the pharmaceutical and chemical sectors, prompting increased R&D investment and cost optimization[53]. Shareholder Information - The total number of ordinary shares at the end of the reporting period was 426,918,340, with 99.9517% being unrestricted shares[64]. - The largest shareholder, Jinghua Pharmaceutical Group Co., Ltd., holds 308,724,340 shares, representing 72.31% of total shares[65]. - The company declared a cash dividend of 1.6 RMB per 10 shares, totaling 68,306,934.40 RMB based on 426,918,340 shares[95]. Accounting Policies - The company has not made any changes to accounting policies or estimates compared to the previous financial statements[94]. - The financial statements are prepared based on the going concern assumption, with sufficient operating funds for at least 12 months from the approval date[99]. - The company adheres to the accounting standards and ensures that the financial statements reflect its financial position, operating results, and cash flows accurately[101].